Brixmor Property Group (NYSE:BRX) Upgraded by Evercore ISI to “Outperform” Rating

Evercore ISI upgraded shares of Brixmor Property Group (NYSE:BRX) from an in-line rating to an outperform rating in a research note released on Tuesday, Marketbeat Ratings reports. The brokerage currently has $31.00 target price on the real estate investment trust’s stock.

Other equities analysts also recently issued research reports about the stock. Mizuho increased their price target on shares of Brixmor Property Group from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Stifel Nicolaus increased their target price on shares of Brixmor Property Group from $25.50 to $27.50 and gave the company a “hold” rating in a report on Tuesday, October 29th. BMO Capital Markets upgraded shares of Brixmor Property Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $30.00 to $33.00 in a research report on Friday, December 6th. Truist Financial upped their price target on Brixmor Property Group from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, KeyCorp lifted their price objective on Brixmor Property Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.69.

Brixmor Property Group Price Performance

Shares of BRX opened at $27.27 on Tuesday. The firm has a market capitalization of $8.24 billion, a PE ratio of 25.25, a P/E/G ratio of 2.54 and a beta of 1.58. The stock’s 50 day moving average is $27.23 and its two-hundred day moving average is $27.44. Brixmor Property Group has a twelve month low of $20.80 and a twelve month high of $30.67. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.85.

Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings results on Monday, February 10th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.31. Brixmor Property Group had a return on equity of 11.48% and a net margin of 25.81%. Research analysts anticipate that Brixmor Property Group will post 2.14 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be issued a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a yield of 4.22%. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, April 2nd. Brixmor Property Group’s dividend payout ratio is 106.48%.

Insiders Place Their Bets

In related news, insider Steven F. Siegel sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total transaction of $738,500.00. Following the transaction, the insider now owns 315,004 shares of the company’s stock, valued at approximately $9,305,218.16. This represents a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors acquired a new stake in Brixmor Property Group in the 3rd quarter worth about $46,695,000. Brookfield Corp ON acquired a new stake in shares of Brixmor Property Group in the third quarter worth approximately $38,051,000. Zurich Insurance Group Ltd FI increased its position in Brixmor Property Group by 44.7% during the third quarter. Zurich Insurance Group Ltd FI now owns 3,104,772 shares of the real estate investment trust’s stock worth $86,499,000 after purchasing an additional 959,000 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in Brixmor Property Group during the third quarter worth approximately $25,492,000. Finally, FMR LLC grew its stake in shares of Brixmor Property Group by 136.8% during the 3rd quarter. FMR LLC now owns 1,068,666 shares of the real estate investment trust’s stock valued at $29,773,000 after buying an additional 617,341 shares during the period. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Brixmor Property Group Company Profile

Brixmor Property Group, Inc operates as a real estate investment trust, which engages in owning and operating a portfolio of grocery anchored community and neighborhood shopping centers. The company was founded in 1985 and is headquartered in New York, NY.